Cornerstone Investment Partners LLC Makes New Investment in Old Republic International Co. (NYSE:ORI)

Cornerstone Investment Partners LLC bought a new position in shares of Old Republic International Co. (NYSE:ORI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,830 shares of the insurance provider's stock, valued at approximately $283,000.

Several other large investors have also modified their holdings of the stock. Systematic Financial Management LP raised its stake in shares of Old Republic International by 9.6% in the 3rd quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider's stock valued at $31,268,000 after acquiring an additional 77,583 shares during the period. JPMorgan Chase & Co. grew its holdings in Old Republic International by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider's stock worth $30,160,000 after acquiring an additional 42,934 shares in the last quarter. Boston Financial Mangement LLC raised its stake in Old Republic International by 1.2% during the fourth quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider's stock valued at $28,416,000 after buying an additional 9,011 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Old Republic International by 162.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider's stock valued at $21,612,000 after acquiring an additional 377,605 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Old Republic International by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 561,406 shares of the insurance provider's stock worth $19,885,000 after purchasing an additional 1,999 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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Old Republic International Stock Performance

ORI stock traded down $0.49 on Friday, reaching $37.28. The company's stock had a trading volume of 1,061,002 shares, compared to its average volume of 1,138,966. The firm has a fifty day moving average of $36.22 and a two-hundred day moving average of $36.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The company has a market capitalization of $9.45 billion, a P/E ratio of 14.17 and a beta of 0.88. Old Republic International Co. has a 52 week low of $28.59 and a 52 week high of $39.27.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. As a group, analysts predict that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.29 per share. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date is Monday, March 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.11%. Old Republic International's dividend payout ratio (DPR) is 44.11%.

Insiders Place Their Bets

In other news, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares of the company's stock, valued at $5,335,369.20. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffrey Lange sold 1,098 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares of the company's stock, valued at $1,267,864.24. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,582 shares of company stock worth $578,552. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Old Republic International Profile

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.